Polymer Capital Management US LLC Acquires Shares of 6,300 Agnico Eagle Mines Limited (NYSE:AEM)

Polymer Capital Management US LLC purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,300 shares of the mining company's stock, valued at approximately $493,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in AEM. Versant Capital Management Inc bought a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $26,000. Smartleaf Asset Management LLC increased its position in shares of Agnico Eagle Mines by 859.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company's stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Decker Retirement Planning Inc. purchased a new position in Agnico Eagle Mines in the 4th quarter worth approximately $29,000. Fifth Third Bancorp increased its holdings in Agnico Eagle Mines by 176.9% in the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company's stock worth $32,000 after buying an additional 260 shares in the last quarter. Finally, Duncker Streett & Co. Inc. boosted its holdings in Agnico Eagle Mines by 37.3% in the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company's stock worth $32,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

AEM stock traded up $6.18 during midday trading on Friday, reaching $117.73. The stock had a trading volume of 7,646,636 shares, compared to its average volume of 2,434,620. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The company's fifty day simple moving average is $101.63 and its 200 day simple moving average is $89.78. The company has a market cap of $59.22 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87. Agnico Eagle Mines Limited has a 52-week low of $60.15 and a 52-week high of $118.74.

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Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. As a group, sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines's dividend payout ratio (DPR) is 42.33%.

Wall Street Analysts Forecast Growth

AEM has been the subject of several research reports. StockNews.com lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. National Bank Financial raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, March 21st. Royal Bank of Canada boosted their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Scotiabank lifted their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a "sector outperform" rating in a research report on Tuesday, January 21st. Finally, Jefferies Financial Group lifted their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a "hold" rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $111.90.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.